$BODEN Rises, $TRUMP Tops PolitiFi Memecoin List as Cryptocurrency Voice in Politics Grows Louder

In the early days of the industry, cryptocurrencies left a bad taste in the mouths of politicians, but in 2024, the sector has apparently become a topic of discussion in some political circles.

Biden campaign on the rise?

Incumbent President Joe Biden’s re-election campaign has been criticized by cryptocurrency users in recent months for its silence on digital assets, but recent reports revealed that the team may be working behind closed doors to better understand the industry.

On Wednesday, a senior adviser to the president participated in a roundtable hosted by a Democratic congressman where crypto industry leaders, such as Ripple CEO Brad Garlinghouse, expressed their concerns about crypto and politics.

Trump’s campaign team increases its activities

In the Republican camp, former President Donald Trump’s campaign team has portrayed the business tycoon as someone who is now turning his attention to the crypto sector. Trump once called Bitcoin a “scam,” but in recent months he has spoken more kindly about the industry, even promising to help Bitcoin mining succeed in the US.

Trump will appear as a speaker at the highly anticipated Bitcoin 2024 conference in Nashville later this month. Billed as the biggest crypto event of the year, it will feature some of the industry’s key leaders and other candidates who have expressed their support for the sector’s growth.

Tokens move with the news

It seems that Biden and Trump-based tokens were affected by the news of the roundtable discussion and the Republican presidential candidate’s confirmed appearance at Bitcoin 2024.

On Thursday evening, Biden-inspired Jeo Boden ($BODEN) rose over 13%, according to CoinGecko data. The token is up 22.4% in the past 24 hours and has gained more than 70% in the past week.

Likewise, Trump-themed MAGA ($TRUMP) took the top spot in CoinGecko’s top 10 list of PolitiFi memecoins by market cap, posting a 4.8% gain in the past 24 hours and up over 33% in the past seven days, according to data from early Friday.

A tool for “popularity testing”

Max Jones, co-founder of Solana blockchain memecoin launchpad MemePad, previously said PolitiFi tokens are “currently serving as an unusual litmus test” for candidates running for the U.S. presidency. The memecoins based on the candidates could also “serve as a popularity test,” he said.

Krypto’s voice is heard

Mark Cuban, a billionaire and well-known advocate for digital asset adoption, said that “crypto voters will be heard in this election,” adding that not only Biden or Trump, but also Congress should take note.

It is unclear how strong the voice of the crypto movement will be heard in November 2024, but at least based on the Republican Party’s 2024 platform, it appears that the crypto industry is now large enough to take pole position in the GOP’s innovation priorities.